Skip to main content

tv   FOX Business After the Bell  FOX Business  April 24, 2013 4:00pm-5:00pm EDT

4:00 pm
much. [closing bell rings] liz: we're seconds from the bell. here it comes on wall street. this is a close one. a bit of a squeaker at least for the s&p 500. the dow simply was on a negative path and accelerated those losses pretty much at the session. and finally the s&p and of course the nasdaq, barely hanging on here at the moment. the nasdaq and russell just slightly to the upside. again these numbers settling. anything can happen. "after the bell" starts right now. david: we have some big earn, movers, today. shares of boeing climbing to the highest level since 2007, after reporting a 20% rise in profit and reaffirming its 2013 guidance the aircraft maker made no mention of its battery troubles with the dreamliner in the report. corning, moving to the upside after first-quarter earnings rose four%. the company also raised its dividends of the. it is a lot of companies been doing and introduced a $2 billion stock buyback program as well. liz: also, on the earnings
4:01 pm
front, proctor & gamble, that is of course the world's largest household product maker moving lower after warning that profit would fall more than expected this quarter, it simply had to increase spending. it is down nearly 6%. oms group moving lower by about just a percent here. the company reporting a 51% drop in first quarter profits, weighed down by sluggish trading conditions and expense related to the botched facebook ipo. that is still moving its way through. david: let's get right to the market action today. we have a bull versus a bear debate with john buckingham. al frank asset management cio. he is optimistic. has three money-making place. our bear, david wright, sierra investment managing director and coportfolio manager. telling us what kind of market pullback he is anticipating. and despite that, where he can still make a profit. scott bauer in the pits of the cm -- okay, we got qualcomm earnings reports coming in right now.
4:02 pm
i believe adam has those numbers. go ahead, adam. >> that would be dennis but we ll look-alike. qualcomm in a beat. it matches earnings per share, $1.17 is what wall street wanted, what they got non-gaap. revenues instead of colling in 6.09 billion as wall street wanted came in 6.12 billion. that is beat on the upside. earnings are coming in and beating low expectations but we see a number of times they cut costs so earnings were up but revenues didn't grow enough and that bothers wall street. to see a good top-line number about, better than what wall street wanted from qualcomm a great sign. that could auger well for the broader cell phone market. remember qualcomm makes chips inside mobile phones that run on android and windows and apple and new blackberry. that is sign perhaps of good wireless demand for devices. the company lifted a quarterly dividend recently by 40%. there will probably be no action on that. look what they did on the
4:03 pm
modem chip numbers. see what they did on the special modem chip. we want to see full-year guidance. expecting earnings per share full year of 53. no word whether they changed that anyway. david: dennis read that thing quick. thank you very much, dennis kneale. appreciate it. let's go to scott bauer to talk specifically on equal come. why do you think they're trading down after-hours here? >> i'm watching this, very surprised at least given top lynum members we saw, given revenue and earnings because it is a beat on both. i think we have to watch to see what else is coming out. what that the mode emdid, what the chip number is and see what happens. i'm very, very surprised. with this beat here that we see, i would have thought that the stock would have been trading up, maybe even breaking through the near-term resistance levels and up towards 70. there is something else going on that maybe we don't know yet but numbers really look good. liz: let me quickly tell you as i'm scrolling down on the report, that the guidance here. so we're looking at some of
4:04 pm
the guidance numbers and what you see when it comes to guidance that the full year numbers, and i just sent this to you, dennis kneale, so you can get a sense what is going on there, that's the issue because people want to know if there's saturation in the smartphone market. while qualcomm, their chip-sets are everywhere. in high-end phones and lower value phones. i think that is really something that people are looking forward too. dennis? >> as a matter of fact that is something worth watching. we still have dating coming in, liz. i think actual demand for wireless devices has been pretty huge. in part because even while the u.s. is kind of in the middle of product cycle problems and is already saturated, you've got asia where people are getting richer and richer and global orders of wireless devices are really lifting this market. qualcomm came out and gave an outlook for the third quarter because they just reported their second quarter, i believe. their revenue they see between 5.8 billion and 6.3 billion.
4:05 pm
wall street was estimating 5.88 in the middle of those two. sounds like if anything qualcomm is lifting a possibility that revenue growth will be even better. liz: here is the current guidance, dennis. 24 billion, to 25 billion. for full year, 2013. that is their guidance at the moment. they say that is increase of 26% to 31%. >> that is huge growth for a very mature company on a huge base. so that, should be cheering the street. and i don't know why it isn't. daaid: let me bring in another analyst. we have john buckingham with us. john you're bullish on the market. one would think looking at these numbers that would give investors reason to be bullish on qualcomm. why is the stock down? >> i don't follow qualcomm in particular but, you know, so far in corporate earnings season we've seen good bottom line numbers relative to expectations. corporations are beating. top line is always a concern and always in the guidance. saw it last night with apple. initially the stock spiked.
4:06 pm
then in the conference call happened and folks weren't as enthused about that call. david: this is interesting point, john about apple and might relate to qualcomm. you're saying it was guidance brought the stock down-to-earthly levels as we saw trading day begin today? >> we had lower margins than wall street was looking for going forward. we really like apple. it is a name we definitely would be buying here. and i will probably want to take a look at qualcomm if the stock sells off after what appears to be solid earnings report. liz: david, you are bearish, you went from cautious to bearish recently. i'm just wondering if the situation with both apple and qualcomm and for that matter some of the other names out there that have missed, say for example, ibm. really make you extraordinarily concerned what may be on horizon? >> we don't follow individual stocks but yes, last time i was on we were expressinging caution and we turned outright bear. because of much larger themes. the four-year cycle, it has
4:07 pm
extended a lot and we're now seeing technical signs that the top is probably in. nasdaq hasn't made a new high. it didn't follow the dow and s&p. mid-caps didn't make a new high. small caps didn't make a new high. all the foreign global markets are well out there. david: david, i have to interrupt you because we have results from zynga. we call them results because they may not be earnings. dennis has numbers. go ahead, dennis. >> zynga to the upside with a big surprise for wall street. instead of losing three penny as share as wall street was stricting it earnings a penny a share. a big revenue upbeat on. revenue came in at 264 million. now the disturbing thing that is down from quarterly revenue a year ago of 330. but that could be just product cycles and new games. there is another thing that wall street watches, how much are people purchasing stuff inside the game? that is where zynga makes most of its money. a lot of the games are free
4:08 pm
but end up paying money for virtual tractor. bookings as that is called, wall street was expecting $230 million. that would be a 10% drop. bookings came in at $231 million. people are end spending more inside the game. liz: word you don't want to see decrease, several of these headlines, scott bauer, are saying decrease. first quarter monthly unique users decreasing from 182 million in q1 in 2012 to 150 million in q1 2013. average daily bookings per average decreasing in this first quarter. >> yeah, you know i totally agree with you. if you go back to the earnings estimates, the company really low-balled, they really low-balled the ballpark for this earnings estimate. so coming in as a beat, i'm not so sure that it is really a beat. what i'm interesting to see, what is happening with their online becaming. in the u.k., it is fine,
4:09 pm
going well there but that is such a small percentage of their business. here in the states, online gaming there is only three states it's legal in. we need to see if within the next year they have a concrete plan because that's going to be where their future profit center is. again going back to what these numbers are, liz, i do not like the revenue or the earnings numbers, the fact they, quote, unquote, made money because hey were low balling it. like you said, decrease, that is a word you don't want to see. that's why we're seeing a stock getting hit here. david: it is hit by a 15% decrease after-hours. >> yeah. david: david, what do you think about these stocks? you're for ibm and some big name cap stocks here. would you go in for any of these smaller stocks? >> we don't follow individual stocks. we're global macro. david: let me bring that to john. forgive me, david. let me bring that to john. what about a smaller stock like zynga, would you go for them? >> no. i'm all about valuation and it is not a name that is
4:10 pm
trading at an inexpensive value. you mentioned ibm. that is a stock we like. we like companies trading at inexpensive multiples on earnings. ibm at 11 times forward earnings and we like companies generating lots of cash and rewarding us with dividends. ibm is a perfect example of that. nice dividend payer. company will continue to grow in our mind over the next several years even if growth was a little disappointing in this last quarter. liz: john, david, thank you. scott, we'll check back in with you in just a few minutes to see how the s&p futures close. david: i would think zynga is aways away from giving a dividend, would you? liz: that will probably be a while --. david: a while away. liz: never. amazon acquired 12 companies in the last three years the dow and your company want to be next on the list? we are breaking down the key things you need to know and do to be bottom out by amazon. -- bought out. david: the change of heart. he is ranked among the top financial advisors by
4:11 pm
"baron's" magazine. owe is widely known as a bond investor but he is changing his tunes from bonds. he is warning of danger ahead for bond which is why he is investing more in stocks. so why is he changing and where is he is investing specifically? he joins us next. we'll tell you what the most and least stressful jobs are in the whole world. and we want to hear from you. log on to facebook.co facebook.com/afterthebell. tell us what the most stressful job you ever had was. we all have one in mind. we'll read your answers coming later in this hour. ♪ [ male announcer ] at his current pace, bob will retire when he's 153,
4:12 pm
which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someon who gave him a fresh perspective on hisortfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not roct science. it's just common sense. ...amelia... neil and buzz: for teaching us that y can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us insting billions...
4:13 pm
in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go.
4:14 pm
you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. david: a lot of gamers out there. get ready the next xbox will be unveiled next month. let's go to nicole petallides on floor of the new york stock exchange with details, nicole. >> that's right. big news for microsoft here. let's take a look. microsoft will have a special unveiling related to the xbox. so may 21st is the day to mark on your calendars and, obviously they compete so heavily with sony, the playstation, and nintendo wii but they have had a
4:15 pm
27-month lead with these two. so, now the market is expected to expand to about $70 billion by the year 2017. these gamers are serious and the new latest xbox will be unveiled on may 21st. so less than a month from now. david: half our crew is shaking right now in anticipation of that. thank you very much, nicole. liz: thanks, nicole. the s&p closed today up one penny. let's see how the futures are closing. right now scott bauer in the pits of the cme. >> these guys are shaking too about that new xbox thing. you know what? this was a pretty quiet day out here. right around the flat line all day. no different than the last 10 minutes especially with jobless claim number tomorrow. pretty flat line and i wouldn't expect from the number tomorrow. david: scott bauer, thank you very much. even bond kings are looking at the stock market as a new kind of fixed income but many fixed income investors are still wary giving stocks the same kind of trust
4:16 pm
they're used to giving so we decided to ask one of "barron's" top advisors a fixed income guy who is looking more to stocks today to make a sale to wary investor. that's me. rich sapper steen, is high tower partners managing director and he tells us where he is investing his clients money. good to see you. by the way, folks this guy is number five investor according to "barron's" top 100 advisors list. you want to pay attention to what he said. i'm wary investor, i lost money in 2000 with the dot-com bust. i lost money in 2009 with the financial bust. convince me it i will time to take some of my money out of trusty bond and put it into stocks. >> it is a interesting situation we have right now. bonds, relative to stocks are virtually upside down because typically 10-year treasurys yield more than the s&p dividend but today the s&ps yielding 45 basis points more than the 10-year
4:17 pm
treasury. now if you go back 50 years, the average is that, 10-year treasurys yield 350 basis points more than the s&p. so that relationship is effectively upside down today. david: all right, you also have all of these dividend issuances. a lot of companies increasing dividends quite a bit. you mentioned coca-cola has a higher dividend yield than its 10-year bond. >> correct. and that permeates through a lot of companies on the s&p today. so, investors looking to get yield can now move to high quality stocks and gain more yield than owning bonds. david: but it is the principle that concerns fixed income. it is not the dividend yield. not -- obviously you want something that will beat out inflation so you don't lose money but it is a fear, this underwriting fear of losing your principle, which we were face-to-face with in 2009.
4:18 pm
that is what scares us. >> but there is great risk in owning bonds right now. normally the interest yield on the bonds exceed that of the risk of a rising rate environment. but today, if rates move higher, the principle decline in the bonds will be offset, will offset the yield that investors get on the bonds because we're in such a low rate environment. david: have you had trouble talking, fixed income investors into this idea, idea of getting more money into stocks? >> well, typically our client portfolios are balanced between stocks, bonds and some hedge fund. so we're --. david: what is the balance right now? >> right now it's a bonds are 25%. stocks are around 50%. and hedge fund down at 25% also. so the real question is how much are we changing allocation and today we've reduced the bond allocation, and increased the stock allocation because we think it is the best asset class out there right now. david: for those who have not been convinced, for
4:19 pm
those who still feel they want to focus their investments on something secure like a government bond, we heard bill gross, pimco saying that he was into tips now, the treasury adjusted inflation, excuse me inflation adjusted bonds. would that e something that you would have at least part of in your portfolio? >> no. we're not concerned about inflation right now. so, what we really want to do is balance the portfolio, diversify asset classes and participate in what we believe to be a secular growth economy right now. david: what about metals? what about gold in particular? >> no, we do not have exposure to commodities or to metals right now. david: and why not? isn't that a enhad a at some pounlt you need to get into? >> we don't think it is necessary right now. david: really. >> sometimes you don't have to leave fish to find fish. fisherman i like to say that, quite often we have great opportunity right here in america in common stocks. david: specifically i would imagine you're going for those, sort of blue ribbon stocks like p&g which
4:20 pm
actually had tough times over the past couple days and other stocks like that that give big dividends, is that the kind of stock you're looking at? >> what we're focusing on is large cap value, primarily consumer staples and small cap stocks. david: johnson & johnson, number of stocks like that? >> correct a lot of large cap consumer staples stocks with fairly dependable earnings, stable dividends and good growth potential because keep in mind we have foreign investors that are real locating from japan, from europe into dollar-denominated assets. david: finally i mentioned inflation, you think it will be low for the near future anyway. should you always look for a dividend a little higher than inflation? >> no. i think the combination of growth plus the dividend will provide attractive total return to investors. david: okay, rich sapper steen, high tower investment partners. good to see you, rich. >> thank you, liz, over to you. liz: the fireworks were flying as the faa chief
4:21 pm
faced tough questions overflight delays. why he says they're unavoidable and how the white house is responding. plus, let's make a deal. amazon is a big fan of acquiring really solid quality companies with more than 12 acquisition in just the last three years alone. think your company would be a perfect fit. we're breaking down how to sell your company to amazon. how to get them to focus on you. ♪ i turned 65 last week. the math of rerement is different today. money has to last long.eek. i don't want to pour over pie charts all day. i want to travel, and i want the income to do it.k. ishares incomes etfs. low cost and diversified. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includ investment objectives, risks, charges and expenses.
4:22 pm
caread and consider it a prcarefully before investing. risk includes possible loss of principal.
4:23 pm
4:24 pm
david: faa administrators are getting grilled on capitol hill trying to explain a 4% cut because of sequestration turned into a 10% cut of air traffic
4:25 pm
controllers which could cause big flight delays around the country. >> white house is responding to cuts and delays. rich edson on capitol hill with the latest developments at today's hearings. rich? >> the faa saying yesterday some 1,000 flights were caused because of these furloughs. what republicans are saying that the faa can simply under the law find $200 million somewhere else in its $16 billion budget and get all the controllers back to the towers. the faa and administration says the law does not give them that authority. so they're continuing to go around on that point and may take congress to change the law to get any movement here on this what the top democrat in the senate is proposing is using what is known as overseas contingency operation money, oco money, basically money we're not going to spend in iraq and afghanistan from winding wars down there. republicans call it a budget trick. the white house is endorsing it. >> these are real policy choices that produce savings. we believe that senator reid's proposal is a good
4:26 pm
one in that it would temporarily delay the sequester and all the negative effects that we're talking about now to air travelers and families and seniors. >> whether oco is the mother of all gimmicks or just a glaring one, everybody other than the majority leader evidently agrees on one thing it is the height, the height of fiscal irresponsibility. >> other democrats are suggesting closing what is known as the corporate jet tax loophole to pay for the air traffic controllers. there is bipartisan proposal would give department of transportation more leeway to transfer money from one account to another to restaff the faa control towers. that has some bipartisan support there. still not enough momentum where seems like something would pass confess anytime soon. back to you. david: i love idea saving money you never intended to spend in the first place. you can't afford not to buy this. quite a sales gimmick. liz: exactly. david: sometimes it works. thank you very much. liz: see if they bite on that one.
4:27 pm
plenty of entrepreneurs would absolutely dream of having amazon buy their company. so what is it exactly that amazon looks for before purchasing a company? our next guest is on the inside working to sell a company to the tech giant and interviewed a bunch of amazon acquirees to find out what catches amazon's eye. david: also we'll tell you, and i'm sure a lot of people have perfect examples of this. the least and the most stressful jobs for 2013. what is the most stressful job you have ever had? we would like to know. log on to facebook.chr facebook.chrm/afterthebell. we'll read the answers later this hour. ♪ at od, whatever business you're in, that's the business we're in
4:28 pm
with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises.
4:29 pm
4:30 pm
♪ liz: -- david: a lot about spinners would jump at the chance to southern company to amazon. our next guest is on the inside currently advising company on the sale. so what does amazon look for? >> joining us now is managing director at dg strategic advisers. again, you're advising a company right now. so you're seeing the inside of the way that amazon really works. we always think back said the
4:31 pm
first by which was so great for the company and have continued to run really beautifully. the question is, if there are entrepreneurs hoping an amazon will buy them, is that a possibility and are there specific things that amazon much that? >> absolutely. why did to form this view is, you know, i have my own, as you just mentioned. i've been interviewed all sorts of ceos that have sold their companies to amazon. i just had, kind of, you know, open-ended conversations with them. third, i read everything that the company has said publicly and where they're going to go. so the answer is, absolutely i have formed an opinion and have a number one most important thing. david: which is? >> which is -- let's see, the ceo of mother care and was the ceo of love film at the time that the company sold for 300 million, he said have a maniacal love for the customer. the second example -- said an
4:32 pm
example of the same thing to the customer came from elias rahman who is a ceo. what he said was, it's we impressed upon jeff that we are all about reducing purchase points for customers. his company, similar to pandora, but has played less so that depend upon the time of day i can, like mice -- like with my son this evening, pick up music to both my son. so this is a key thing. just have this -- david: maniacal concern for the customer. >> right. everyone is focused on that. liz: let's go to some of these companies and put them back up on the screen because we showed, they have made some really amazing acquisitions of unknown and lesser-known names. i go back to f zappos which had a respect
4:33 pm
from the customers. the other day i had a horrible experience with the website called boutique to you. they treated me like a criminal. yes. i'm saying it. boutique to you. like dow was some criminal trying to rip them off. i just want to the smaller size and isn't this mean letter. i thought, forget it. i never done business with you. yet i go back and back and back to zappos. what else does amazon look for when it comes to the customer? >> on your example with zappos, there is something we call reverse logistics. basically it's 35-40 percent of everything that is purchased through zappos goes back. it's a really complex process that amazon spend a lot of time and money with, but it's just this, when amazon buys a company like zappos, audible dot com, for good reads, was just happened a couple weeks ago. they're really want to let them operate independently, kind of
4:34 pm
autonomously. and they want to maintain and preserve that culture that they have set up that is phenomenal. david: welcome that's a very interesting point. the people don't start a company with the idea of selling it. it started because the fall in love with it. they love that synergy between them and the customer basic, except representative. so the question of whether amazon would takeover company and then micromanage it and squeeze the personality had of it, you're saying that up to that of all. >> great, great question. greg question, david. not they, if somebody says they want to sell is not going to work. liz: that what the management in place. >> that's not a company that they want to -- they're not fanatical about the company a fan now willing to perpetuate this great is that they have already achieved is not a good match. liz: that's like how buffett makes acquisitions. he does not want to run the
4:35 pm
companies. he was the people who made in britain continue running them. >> right. the third thing that came out of all this information, the third key thing is, clients go through what happened historically. forty acquisitions. prospectively where are deals going to happen. b.c. with logistics', with the system, the robot manufacture , more logistics' deals and then the last point is the analytics. we have all this customer data, how can we use it to personalize and do everything better. david: by the way, you wanted to mention that your views are your own. you are not speaking for the company. >> thank you so much. david: you're quite welcome. thank you for coming in. i might come to you with a 98 eventually. >> i would love it. liz: raymond james just reported earnings. they did mess on the topline, even though they have bigger revenues year-over-year. the stock is getting hit hard. we have a fox business exclusive with what is really going on
4:36 pm
behind the headline number. this ceo paul reilly of raymond james coming up next. ♪ @
4:37 pm
4:38 pm
♪ >> reporter: i'm dennis kneale with your fox business brief. a mixed market on wall street. the dow, the only average to close and the red. blue chips finished 40 points lower at 14,576. on the upside, investors are feasting on cheesecake factory in after-hours trading. first quarter estimates beat by a nickel. revenue better than expected at four under and $63 million. the cheesecake factory also declaring a quarterly dividend of $0.12 per share. all markets kids on the man of steel, the retailer will be the
4:39 pm
only place to buy tickets to a premiere screening for the next superman movie. tickets from warner brothers man of steel will be available at 3700 walmart stores on may may 18th. that is the latest from fox business network, giving it power to prosper. ♪ weent out and asked people a simple question: how old is e oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing.
4:40 pm
but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ ♪ david: time for quick speed read some of the day's headlines. first up, google buys a news memorization at for more than $30 million. it comes shortly after yahoo acquired it. well, the u.s. government is suing -- suing lance armstrong for violating his contract with the u.s. postal service to cut service and could recoup up to three times the amount it planned to lost. their jones group is looking to close 170 stores and cut 800 jobs as part of its plan to
4:41 pm
improve profitability. the jones group owns chains including nine west and easy spirit. and fedex is winning at two and half billion dollar seven year contract extension with the u.s. postal service. fedex will provide domestic and thank -- air transportation service for priority and express mail. and that there are reserve will begin circulating a redesigned $100 bill on october. it will include added security features which are designed to prevent counterfeits, and that is today's "speed read". liz: david, raymond james reported earnings just minutes ago. we want to go inside the report and write down the numbers because we are seeing in the after market is in an interesting spread between the bid and the ask, as you see, the closing value, its 36a6. the ast, fulton dollars more. now, they beat on the revenue number come but they best and etf. let's get right to it in a fox business exclusive with paul
4:42 pm
reilly, raymond james ceo. we can never really fathom why the market does what it does in everything could change tomorrow morning. let's get to the mess on the etf. to what do you attribute that? >> most of the businesses did very well. the equity capital market especially, like most firms have off for the quarter. a lot of that had to do with the activity that was the accelerated in december. the month of december was a record quarter for activity because people wanted to get ahead of potential tax law changes. so it has impacted the entire industry. that was part of it. the of the park is to my the analysts have been looking to take costs out for the morgan keegan integration and have been the lavalas. we said to do it in the latter half of the year and have begun the process. it is not done yet. you combine those two and that comprises all ec. liz: year from asset 100 quarters consecutive of profitability.
4:43 pm
so i guess the question becomes, are you comfortable with these numbers know what you know about the fact that we were coming up against that so-called fiscal cliff in december and a lot of people were beating erratically? >> we have hit 101 quarters, and i feel very good about the firm. we cannot manage quarter record. we manage based on five years of building a business. our business are in great shape. the capital markets area, because fixed-income especially trading profits are in, we have had a little headwind on commission, the equity capitol marcasite, especially in na has been little challenge to demolish a look at the private client group, it is doing well. we have built and the advanced and up 5% on assets to record asset levels. our asset management group, assets grew 10%. so i think the businesses in good shape, and we have a slower quarter and equity capital markets which are more volatile, but i feel about where we are.
4:44 pm
liz: you have a huge business when it comes to fixed income which has been under pressure due to very low interest rates. have you figured out how to gain that, especially considering it appears the fed is going to stay put and it's going to be basic situation for the foreseeable future that we will have extremely low interest rates? >> our agency business to help our clients, so when you get interest rates like this where the yield curve is falls flat and there is a low interest-rate , clients are not trading fixed-income securities. volumes are down and they're going to be down until rates move. we cannot change the macroeconomic environment. we have to wait and service our clients when rates move and business picks back up. liz: what do you expect for guidance? what like to point out for our viewers, a pretty stunning number. assets under management grew to 51 billion, up 30% from the prior-year quarter. morgan keegan, and an acquisition is in there. what is your current guidance,
4:45 pm
if you can articulate the for our viewers? >> well, we don't give guidance, so that's a quick answer. liz: i tried. [laughter] i thought i could try. >> assets under administration got up to 400 billion significantly this quarter as well. the base of the businesses find. for going to have to ride out market sometimes. the film about where we are. liz: did not fall for the old liz and david what is your guidance -- >> no, i'll was like to try. i admire it. liz: thank you so much for joining us. >> thank you. liz: and raymond james financial stock up 28% of the past year, the market really feels about it david: it's interesting. fixed-income, books and firms that focus on fixed-income after we generate a lot of things. well, beijing has changed, maybe not fast enough. now playing a large and in hollywood which is good, but
4:46 pm
with china's growing film crowd it looks like there may be some editorial changes with some of our favorite movies coming out. that may not be good. that story coming right up. ♪ thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the bes experiences below... to the finest comforts above. we're not simply saluting history... we're making it.
4:47 pm
4:48 pm
4:49 pm
4:50 pm
♪ liz: so, when twentieth century fox released titanic in 3d year earlier this year you may have said, forget it, i've seen it on cable of thousand times, but for millions and millions of people in china it was the first time ever they got to see these moments on titanics movie. of course, it was shown in chinese movie theaters and raked in $150 million. not bad for a movie that has been out since 1997. david: it sent a clear message. a massive audience, mostly on taps which gives china some clout when it comes to hollywood releases. on the other hand, there are editorial things about what china does to these movies that
4:51 pm
may disturb. but dennis kneale has the details. >> reporter: when disney's iron and reopens on may 3rd china will be quite the supporting actor. the chinese version will feature a local teen idol who is not in the main film. loving shots of the chinese landscape that will be on the cutting floor in the rest of the world. chinese censors will make sure that it is tailored to local tastes, less sex, violence, and all that good stuff. and with altruism in this film and censoring shots of her just seems wrong. reports are that senses forced the latest james bond film to delete references to china's sex trade and that they delayed the release of quentin tarantino's newest movie because of its ultra violence. there's a good reason why hollywood will allow this. money. china passed japan last year as the number two film market. it's still only one-fourth the size of the u.s. and canada, but not for long.
4:52 pm
the film revenue grew 36% last year, while the u.s. grew only 6%. it's only a matter of time before they pass. building ten new theaters every day. even though the per capita income is only one-tenth of hours, they pay almost as much as we do for a ticket. now, tinseltown always is tailored to local tastes. at what point does this tailoring turn into a bold faced imposed by the people from above ? iron and three could be a test of that notion. liz: imax tickets are sometimes scheldt for $90 per depending on the movie. david: a huge market, but your question of editorial a baldness in the films is disturbing. thank you. good to see you. looking to take it easy at your next job? we will tell you what was ranked as the most and least stressful jobs in the whole space.
4:53 pm
liz: recovery would ask you. we will read some of your responses. david and i will weigh in next. ♪ i turned 65 last week. the ma of retirement is different today. money has to last longer. i don't want to pour over pie chartall day. i want to travel, and i want the income to do it. ishares incomes etfs low cost and diversified. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, whicich includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal.
4:54 pm
4:55 pm
[ighter flicking ] [ male announcer ] you've reached thege
4:56 pm
where giving up isn't who you are. ♪ this is the age of knowing how to make thinghaen. so, why let erectile dysfunction get in your way? talk to your doctor about viagra. 20 million men already have. ask your doctor if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, an abnormal vision. to avoid long-term injury, seek immediate medicalelp for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sudden deease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor. visit us at marsco.com. no trading minimum. no share limits. no inactivity fees. go to marsco.com to open your account today. $3.95 a trade. ♪
4:57 pm
liz: david: we have all been thinking >> we have all been thinking about this question, time to kick back and relax, a list of the least stressful jobs in the united states. the survey looks at various factors like growth opportunities, health risk and income. coming in at number three, medical records technician. seamstress or tailor took second place. first place was a university professor. professor. the ability for professors to earn tenure yields the low stress. what was your most stressful job? liz: one hour photo. if you ruined the film, forget it. break open a film canister. careercast.com rate low most stressful.
4:58 pm
ranking first place for the most stressful job, enlisted military personnel, of course the dangers of serving are well known at times of conflict, particularly on active duty. your most stressful job? the one stressful, i don't know, this would have to rank up among them doing live television. but 30th, used to clean septic tanks. we asked you. gary wrote in to say owning my own business. nobody now stress until you have those responsibilities. liz: jeanie on facebook said the one i have right now, residential real estate agent. but i still love it. david: gene on facebook said driving at public transportation bus. liz: tomorrow on "after the bell," a ceo marathon. leaders from three different
4:59 pm
industries. the ceo of western digital, the ceo of tupperware. david: if you want to know what the ceos are thinking come you have to come here tomorrow at 5:00 p.m. also, the number one thing to watch will be initial jobless claims, a lot of curious questions about if the economy is matching the optimism of the stock market and of course job growth very much a part of all that. economists are expecting claims to drop by 1000 to 351,000. leslie claims rose by 4000. what happened to apple, tomorrow will be key. liz: take a look in the aftermarket session adjuster afr earnings. taking a hit on qualcomm. these numbers came out, qualcomm

640 Views

info Stream Only

Uploaded by TV Archive on